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Improving transaction throughput is one of the main challenges indecentralized payment systems. Attempts to improve transaction throughput incryptocurrencies are usually a trade-off between throughput and security orintroduce a central component.  We propose Hydra, a decentralized protocol that improves transactionthroughput without the security trade-off and has no central component. Ournovel approach distributes blocks over multiple blockchains. Hydra makes atrade-off between transaction throughput and finality, the time it takes tostabilize the record of a transaction in the blockchain. We rigorously analyzethe double spend attack in a multiple-blockchain protocol. Our analysis showsthat the number of transactions per second can be increased significantly whilefinality is within acceptable boundaries.

Hydra: A Multiple Blockchain Protocol for Improving Transaction Throughput